Proposition 39

Sep 19, 2012

Proposition 39

TAX TREATMENT FOR MULTISTATE BUSINESSES. CLEAN ENERGY AND ENERGY EFFICIENCY FUNDING.
INITIATIVE STATUTE.
• Requires multistate businesses to calculate their California income tax liability based on the
percentage of their sales in California.
• Repeals existing law giving multistate businesses an option to choose a tax liability formula
that provides favorable tax treatment for businesses with property and payroll outside
California.
• Dedicates $550 million annually for five years from anticipated increase in revenue for the
purpose of funding projects that create energy efficiency and clean energy jobs in California.